MEDYCOOL LLP

In their own words

INTRODUCTION: We are a Team of qualified and Experienced Professionals, and we wish to introduce our project here to get financial support to get our project success. Our unit is planned in Kerala for manufacturing Latex Surgical Gloves to cash in the growing demand for Surgical and Examination gloves. At present India is relying heavily on imports to bridge the gap in supply and demand as the domestic production meets only 25 % of the requirement. The unit set up by us as a forward integration project will produce 50 million pairs a year when fully functional in one to two years. The total investment in the project will be Rs 25 crore. Initially, the company will invest Rs 20 crore to manufacture 40 million pairs.Gloves play an important role in human life providing a barrier of protection from infectious organisms. Gloves are an essential feature of medical practice for the protection of both patients and medical personnel during surgical procedures. Natural Rubber latex has consistently been the most satisfactory raw material for the manufacture of gloves because of the very good physical properties such as excellent barrier property, high strength, good elasticity, tactile sensitivity, comfort, fit, and durability. They are still widely used preferentially worldwide, which are known for their excellent barrier protection against microorganisms including bacteria and viruses, as well as infectious fluids. Manufacturers of Surgical gloves are required to meet a higher level of quality standards. Normally Surgical gloves are sterile and individually pouch packaged in pairs. They are usually sized more precisely, since they are worn for a much longer period of time and require exceptional dexterity. MARKET POTENTIAL: The global rubber gloves market by revenue is expected to witness 2.1X times the growth during the forecast period 2020-25. The market is highly competitive, with a high scope for revenue opportunities and market expansion. The scope for market growth is high with new entrants entering into collaborations and strategic ventures for market expansion activities. Despite losing a share to the Nitrile segment, the natural rubber gloves segment accounted for over 40% of the total volume in 2020. North America is expected to continue its dominance during the forecast period, anticipating an incremental growth of over 37 billion units. The medical segment accounted for the largest revenue in 2020 and is expected to reach over $24 billion by 2026. With the growing number of surgeries and cosmetic procedures, surgical gloves are expected to generate an incremental sale of over 54 billion units during the forecast period. APAC is likely to be the fastest-growing market in the surgical segment, which is estimated to grow at a CAGR of over 16% in terms of revenue. The rise of medical tourism in countries such as Malaysia, Thailand, India, and Singapore has substantially led to the demand for surgical supplies. Furthermore, the aging population, chronic illness, and the expansion of healthcare facilities are other factors that are driving the demand for medical gloves. The Indian presence in the international market is negligible and is only around 0.2 % of the total market. The major importers of latex gloves are the US, Europe, GCC and Latin American countries.

Written by the company on its public Startup India profile. Not verified by us.